The government plans to replace old and dilapidated rolling stocks of Bangladesh Railway with new ones in a bid to further improve the railway services.
The Executive Committee of the National Economic Council (ECNEC) has approved a project involving Taka 36.02 billion in this regard, reports BSS.
The Bangladesh Railway Rolling Stock Operations Development project was approved at ECNEC meeting on Tuesday at Sher-e-Bangla Nagar in Dhaka.
ECNEC Chairperson and Prime Minister Sheikh Hasina presided over the 27th and last ECNEC meeting of the outgoing fiscal year.
Planning Minister AHM Mustafa Kamal addressed a press conference after the meeting.
He said out of the total project cost for the procurement of rolling stock, Taka 7.65 billion will come from the state exchequer.
The rest of Taka 28.39 billion will come as project assistance from the Asian Development Bank (ADB).
Bangladesh Railway will implement the project by June 2021.
The minister said a total of 14 projects were approved on Tuesday involving an overall estimated cost of Taka 161.47 billion.
“Of the total project cost, Taka 132.83 billion will come from the GoB portion, Taka 238.9 billion from the organisation’s own fund while the rest of Taka 28.39 billion from project assistance,” he added.
Of the approved 14 projects, nine are new while five are revised projects.